The document discusses various aspects of retirement planning such as estimating expenses, sources of retirement income, and types of retirement accounts. It notes that expenses may decrease in some areas but increase in others like healthcare and leisure. Common sources of retirement income include Social Security, pensions, savings and part-time work. People are advised to start planning and saving early to take advantage of compound interest and ensure adequate savings.

1. RETIREMENT PLANNING Chapter 14 1- Department of Human Sciences-- University of Arkansas at Pine Bluff

12. HOW AN “AVERAGE” OLDER (65+) HOUSEHOLD SPENDS ITS MONEY U.S. Bureau of Labor Statistics 1- Department of Human Sciences-- University of Arkansas at Pine Bluff Insurance and other Entertainment Food Medical Housing Transportation Clothing Contributions 32.5% 11.3% 16.3% 15.4% 4.9% 5.7% 7.7% 6.2%

31. ANTICIPATED SOURCES OF RETIREMENT INCOME Social Security Administration, 1997 1- Department of Human Sciences-- University of Arkansas at Pine Bluff Social Security Company pension Part-time work Spouse's pension Savings 12% 27% Other 9% 401(k) 7% 7% 18% IRA 8% Home equity 5% 7%